Samsung Electronics Executives: "Final Wage Agreement Reached... 5 Trillion Won to Be Reinvested in Society Over 5 Years"

The wage and collective bargaining agreement between Samsung Electronics and its labor union has finally been concluded. The Samsung Electronics executive board has also pledged to prevent the recurrence of labor-management conflict and to establish a large-scale social contribution fund totaling 5 trillion won over the next five years.

On May 27, the Samsung Electronics executive board announced, "The wage and collective bargaining agreement at Samsung Electronics has been finalized after the union’s vote was approved. We would like to express our deep gratitude for the attention and support from the public, shareholders, customers, employees, and the Korean government’s dedicated efforts."

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The board stated, "This event has given us the opportunity to reflect on Samsung’s management philosophy of 'business patriotism' and 'talent first.' We humbly promise to deeply examine not only labor-management relations but also overall management to ensure that such an incident never happens again."

With the conflict now resolved, Samsung Electronics, as a pillar of the Korean economy, intends to continue pursuing technological innovation and bold investments, while significantly strengthening its social responsibility.

The executive board emphasized, "Through relentless technological innovation and bold investments, we will ensure that we remain a steadfast backbone of the Korean economy. We will also further reinforce our social responsibility so that Samsung's growth and achievements create a virtuous cycle not only for our employees but also for society as a whole."

The most notable point is the concrete plan for a 5 trillion won social contribution project. The executive board said, "Over the next five years, we will raise a total of 5 trillion won to invest in 'co-prosperity and the creation of a healthy ecosystem' as well as 'fostering future talent.' We are considering support for secondary and tertiary small and medium-sized partner companies, the creation of an industrial accident fund, expanding inclusive financial services for vulnerable groups and small business owners, university-industry cooperation for nurturing artificial intelligence (AI) talent, and youth education." The specific methods of contribution will be determined through discussions with the board of directors and the Compliance Committee.

The company also reaffirmed internal unity. The executive board said, "Employees, including the labor union, have also agreed to actively participate in these decisions," urging employees, "We are one body, one family. Let us wisely come together and do our best so we can take pride in being members of Samsung."

Earlier, at 11:00 a.m. on May 27, Samsung Electronics and the joint bargaining group of its labor union held a signing ceremony for the '2026 Wage Agreement' at Samsung Electronics' The UniverSE in Giheung, Yongin, Gyeonggi Province, putting an end to the labor-management conflict over incentive payments.

As the general strike was scheduled for the following day, a tentative agreement on the 2026 wage deal was reached on the night of May 20. The union’s vote on the agreement, conducted from 2:00 p.m. on May 22 to 10:00 a.m. on May 27, resulted in a 95.5% turnout and a 73.7% approval rate, thereby finalizing the agreement.

This content was produced with the assistance of AI translation services.